Trump Media stock slump deepens as election bump erased, losses mount

Trump Media held roughly $1.5 billion in digital assets at the end of September, with roughly $1.3 billion in Bitcoin and about $147 million in Cronos.

Less than one year into Donald Trump’s second term and the post-election ebullience has evaporated from shares of his social media company as sales stagnate and profitability remains elusive.

Trump Media & Technology Group Corp. reported a quarterly loss of roughly $55 million in the three months ending Sept. 30, according to a statement. That’s more than double a $19 million loss reported in the year prior.

The owner of Truth Social has yet to report a profit as a publicly traded company. And, despite the firm dipping into everything from exchange-traded funds to prediction market contracts, it reported less than $1 million in net sales for the quarter. That’s a modest drop from the year prior, which included the months heading into the US presidential election.

The stock slumped as much as 4.7% to $12.70 on Friday before paring losses, after setting its lowest close since September 2024 in the prior session. It has now fallen roughly 70% from a January closing high of $42.91.

The recent downturn in cryptocurrencies is unlikely to help future profits. Trump Media held roughly $1.5 billion in digital assets at the end of September, with roughly $1.3 billion in Bitcoin and about $147 million in Cronos.

The company said it ended the quarter with total assets of roughly $3.1 billion including the digital assets and cash.